Closing The Deal
It’s an exciting time. Your offer has been accepted. You can’t wait to move into your new home. But don’t start celebrating yet. There is one final stage involved in purchasing a home — closing the deal.
Closing is the point at which ownership and usually possession of the property is transferred from the seller to you. It takes place after the parties involved agree that all legal and financial obligations have been met. Your lawyer and your REALTOR® will do much of the work, but here’s a checklist that will show you what to expect as the process unfolds:
The big day arrives.
You don’t need to be present, usually. The lawyers for both parties exchange documents, keys and cheques and then register the deed and mortgage. Soon thereafter you’ll be given the keys to your new home.
Now the celebration begins.
Source: Ontario Real Estate Association
The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner.©Royal LePage TEAM REALTY